In July of 2020, the Big Sky Community Housing Trust became an independent nonprofit that supports Big Sky’s local economy and enhances the character of the community by improving the availability of affordable housing for local residents.
WHY DO LOCALS NEED HOMES?
The lack of affordable homes impairs every segment of the Big Sky community. Every business feels the impact, and Gallatin county is experiencing a worker shortage because there is nowhere for employees to live.
A recent housing study estimates Big Sky needs an additional 655 units by 2023 to address the current shortfall for the community’s growing workforce. Market factors like vacation rentals consuming locals’ rental inventory and skyrocketing real estate prices make quality homes incredibly scarce and breathtakingly expensive.
If we don’t address the housing crisis now, the problem will only get worse, and more locals serving in our hospitals, schools, restaurants, and resorts will be in real danger of homelessness.
Increase of average sales price for single family homes.
From $1,686,840 in 2019 to $2,401,619 in 2021.
Increase of average sales price for condos/townhomes.
From $445,014 in 2019 to $999,280 in 2021.
2021 Strategic Priorities
Currently, 78% of the workforce needed in Big Sky commutes. Our community needs more homes of all shapes and sizes for all our neighbors in order to reduce long commutes that steal time, clog streets, and create pollution.
In its March 2021 board meeting, Big Sky Community Housing Trust leaders settled on three programs to prioritize in 2021 to create more homes for local workers because no matter who you are or what’s in your wallet, everyone needs a safe and sustainable place to live.
BSCHT created a first for the community by constructing and selling MeadowView, a deed restricted condominium development for local workers.
The completion of MeadowView, Big Sky’s first community land trust development funded largely by Resort Tax, is slated for spring of 2021.
All 52 condos are sold or under contract by employees working in Big Sky.
Many MeadowView buyers received funding from BSCHT’s down payment assistance program, which loans up to $20,000 to buyers that they return at resale. The program then recycles the funds by making them available to the next buyer.
Support Local Housing
There is no quick answer to address the lack of affordable homes for Big Sky locals, a common problem in other resort towns. However, our community can still take action, which is the mission of the Big Sky Community Housing Trust.
Media and Documents
A collection of media articles and our most helpful documents and presentation files.